Domestic Nuclear Fuel Solution
Eagle Nuclear Energy Connects Domestic Uranium to Future Reactors, Bridging US Fuel Gap
Anonymous
The United States runs 94 nuclear reactors but mines almost none of its own fuel. About 95% of American uranium is imported, leaving the country dependent on geopolitical rivals for roughly 50 million pounds of uranium every year, according to GlobeNewswire. Eagle Nuclear Energy Corp. (NASDAQ: NUCL) wants to fix that — from the ground up.
Eagle began trading on the Nasdaq on February 25, 2026, after completing a SPAC merger. The company holds what it calls the largest conventional, measured-and-indicated uranium deposit in the U.S. It is also pursuing small modular reactor technology. On June 9, it announced a deal with AI firm Tensor Medium Corporation to support reactor simulation work, per GlobeNewswire.
America Consumes 50 Million Pounds of Uranium and Mines Almost None
The fuel gap is stark. The U.S. burns through about 50 million pounds of uranium a year. It produces roughly 1 million pounds domestically — about 2% of its needs, according to StreetInsider. Most of the rest comes from Kazakhstan, Russia, and other nations that are either rivals or unstable suppliers.
Congress has moved to close that gap. The Prohibiting Russian Uranium Imports Act and the 2024 ADVANCE Act both push for domestic production. President Trump signed four executive orders in May 2025 to revitalize the nuclear industry, including one called "Reinvigorating the Nuclear Industrial Base," per the Office of Nuclear Energy. Uranium spot prices hit $101.41 per pound in early 2026, with long-term contracts at $93 per pound.
Eagle's Oregon Deposit Could Supply Meaningful Domestic Uranium
Eagle's Aurora Uranium Project sits in Malheur County, Oregon. A technical report completed in August 2025 by BBA USA confirmed 32.75 million pounds of indicated uranium and another 4.98 million pounds inferred, per GlobeNewswire. That makes it the largest conventional measured-and-indicated deposit in the country.
A 27,000-foot, 47-hole diamond drill program is scheduled to begin in July 2026, using two to three rigs. Environmental baseline studies — covering water, plants, and wildlife — kicked off in May 2026. The company is targeting a Pre-Feasibility Study by the second half of 2027. VP of Operations Vishal Gupta said "advancing Aurora responsibly and efficiently remains a key priority as the United States looks to strengthen its domestic uranium supply chain," per Mining Weekly.
AI Company Brings Reactor Simulation to Eagle's SMR Ambitions
Eagle is not just a mining company. It also wants to build small modular reactors — compact nuclear plants that can be built faster and cheaper than traditional ones. On June 9, 2026, it hired Tensor Medium Corporation to run AI-powered reactor simulations, per Stock Titan. Tensor Medium was founded by Dr. Boian Alexandrov, a former theoretical physicist at Los Alamos National Laboratory.
Dr. Alexandrov said "Tensor Medium's advanced simulation and optimization capabilities are well-suited to next-generation reactor development programs such as Eagle's SMR initiative." CEO Mark Mukhija framed the broader mission bluntly: "AI, quantum computing, and cryptocurrency are driving unprecedented electricity demand," and Eagle aims to supply the fuel and the reactors to meet it, per SEC.gov.
A $278 Million Junior With Real Hurdles Still Ahead
Eagle is early-stage. It reported $31.3 million in cash and zero debt as of February 28, 2026, per Baystreet.ca. Its stock traded near $9.73 in mid-June 2026, giving it a market cap of about $278 million. The American Association of Individual Investors gave NUCL a momentum score of 86 out of 100 as of June 12. Still, no major Wall Street firm has issued a formal analyst rating, which is typical for junior mining companies.
The Aurora site faces real obstacles. Oregon's 1991 Chemical Process Mining Law restricts the type of extraction Eagle may need to use. Local tribal nations and environmental groups have raised concerns about groundwater and cultural sites near the McDermitt Caldera. A Change.org petition has flagged what critics call "pseudo-secrecy" around the project. And critics note that combining uranium mining with cutting-edge reactor development is an unusually complex bet for a newly public junior, per Equity Insider.
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